M&T Bank Corp reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 23.1% in the fourth quarter, HoldingsChannel reports. The firm owned 51,276 shares of the pipeline company’s stock after selling 15,393 shares during the period. M&T Bank Corp’s holdings in Plains All American Pipeline were worth $1,059,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PAA. Northern Trust Corp increased its holdings in Plains All American Pipeline by 7.7% during the 2nd quarter. Northern Trust Corp now owns 663,941 shares of the pipeline company’s stock worth $17,441,000 after purchasing an additional 47,710 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Plains All American Pipeline by 34.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,936 shares of the pipeline company’s stock worth $629,000 after purchasing an additional 6,087 shares in the last quarter. Advisory Services Network LLC increased its holdings in Plains All American Pipeline by 5.1% during the 2nd quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after purchasing an additional 223 shares in the last quarter. Adams Asset Advisors LLC increased its holdings in Plains All American Pipeline by 19.0% during the 3rd quarter. Adams Asset Advisors LLC now owns 184,612 shares of the pipeline company’s stock worth $3,911,000 after purchasing an additional 29,490 shares in the last quarter. Finally, Rockefeller Financial Services Inc. increased its holdings in Plains All American Pipeline by 108.0% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 53,986 shares of the pipeline company’s stock worth $1,144,000 after purchasing an additional 28,030 shares in the last quarter. 42.93% of the stock is owned by hedge funds and other institutional investors.

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Plains All American Pipeline, L.P. (NYSE:PAA) opened at $22.38 on Tuesday. Plains All American Pipeline, L.P. has a 12 month low of $18.38 and a 12 month high of $33.01. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $16,229.73, a P/E ratio of 23.56 and a beta of 0.87.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, February 6th. The pipeline company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.16). Plains All American Pipeline had a net margin of 3.26% and a return on equity of 9.93%. The firm had revenue of $7.61 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the company posted $0.37 EPS. Plains All American Pipeline’s revenue for the quarter was up 27.8% on a year-over-year basis. equities analysts expect that Plains All American Pipeline, L.P. will post 1.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.20 annualized dividend and a yield of 5.36%. Plains All American Pipeline’s payout ratio is 123.71%.

A number of analysts have commented on the company. Stifel Nicolaus reissued a “hold” rating and set a $24.00 price objective (up from $22.00) on shares of Plains All American Pipeline in a report on Thursday, February 8th. Seaport Global Securities raised Plains All American Pipeline from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $25.00 in a report on Thursday, February 8th. Robert W. Baird set a $22.00 price objective on Plains All American Pipeline and gave the stock a “hold” rating in a report on Wednesday, February 7th. Credit Suisse Group initiated coverage on Plains All American Pipeline in a report on Thursday, January 4th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $24.00 target price on shares of Plains All American Pipeline in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $26.61.

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